Evident (product provider) — feeder / SPV structure
Evident — Moonshot AI Pre-IPO Exposure
Indirect economic exposure via SPV or feeder interest; not direct equity. Approval status: Approved by Product Governance Committee to 2026-09-30.
Data as at 2026-08-05 01:40 UTC · Simulated provider and custodian feeds
Simulated data. Product terms, prices, balances and settlement references are placeholders pending provider, custodian and legal confirmation.
Conditional
- Requires professional-investor attestation dated within 12 months
- Valuation older than 60 days — stale-price acknowledgement required
- Concentration limit review required above 5% of portfolio
Terms and economics
- Legal wrapper
- Feeder or SPV interest placeholder — subject to Evident structure
- Nature of investor interest
- Indirect economic exposure via SPV or feeder interest; not direct equity
- Economic exposure
- Private-market exposure to Moonshot AI, subject to availability
- Target return / yield
- Return placeholder — no target return may be represented
- Tenor
- Until liquidity event; indicative 2–4 years
- Liquidity
- Illiquid — lock-up applies, no secondary market on platform
- Dealing cycle
- Primary subscription windows only
- Distribution policy
- No distributions expected prior to exit
- Fees
- Provider fee placeholder 2.0% p.a. + 20% carry; platform fee 0.15%
- Minimum
- USD 1,000,000
- Settlement assets
- USDC, USDT
- FX / conversion route
- HKD stablepoint → USDC conversion leg where HKD funding is used.
- Capacity
- USD 6,500,000 remaining in current window
- Quote validity
- Window closes 2026-08-22
Risk panel
Total loss of subscribed capital is possible; no downside protection.
- Market84 / 100
Private valuation, potential total loss.
- Liquidity92 / 100
Lock-up; no redemption right.
- Credit55 / 100
SPV and feeder counterparty structure.
- Operational60 / 100
Manual register confirmation; coordinated delivery only.
- Concentration78 / 100
Single-name private company exposure.
Lifecycle event calendar
No scheduled lifecycle events in the current window.
Custody, register and valuation
- Custody model
- SPV register entry plus custodian-held interest record
- Register of record
- Transfer agent register of record — off-chain authoritative
- Chain / network
- Off-chain register; token receipt optional
- Valuation source
- Provider-supplied last round mark (simulated)
- Valuation as at
- 2026-05-31 00:00 UTC
Eligibility and restrictions
- Eligible investor classes
- Professional Investors only, with private placement attestation
- Jurisdictions
- Hong Kong, UAE — private placement basis
- Professional-investor status mandatory
- Lock-up until liquidity event
- No transfer without provider consent
- Stale-price warning applies to reporting
Approved documents
Only the latest approved version may be used with clients.
- Private placement memorandum (placeholder)v1.2 · 2026-07-02
- Subscription agreementv1.2 · 2026-07-02
- Risk disclosure — private marketsv1.1 · 2026-04-27